Marsh completes Jelf acquisition

Big-three broker Marsh has completed its acquisition of mid-sized
UK intermediary Jelf, it announced today (1 December).
Marsh agreed to buy the company for 215p a share in September,
in a move that gave it entry to the UK retail insurance space.
The acquisition valued Jelf's existing issued and to be
issued ordinary share capital at £204mn and the existing
issued Jelf non-voting shares at £54mn.
The valuation was equivalent to a 42 percent premium to
Jelf's 12-month average share...